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Getting Credit Card Debt Written Off

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It is not possible to get credit card debt written off in the UK without first making an effort to pay it off. However, there are several steps you can take to manage and reduce your debt:

  1. Contact your credit card provider: If you are struggling to make payments, contact your credit card provider to discuss the options available to you. They may be able to offer you a repayment plan, freeze your interest or even write off some of your debt if you meet certain criteria.
  2. Consider an IVA: An IVA (Individual Voluntary Arrangement) is a formal debt solution. It is considered to be a lighter option than Bankruptcy, since you shouldn’t be forced to sell your home or property. To qualify for an IVA, you will need to have a minimum of £6000 of debt and owe to more than one creditor. You will also need to be able to afford a repayment of at least £100 a month.
  3. Consider a debt management plan: A debt management plan is an informal agreement between you and your creditors to repay your debts. It involves making a single affordable payment each month to a debt management company who will then distribute the money to your creditors.
  4. Seek debt advice: If you are struggling with debt, seek advice from a debt charity such as StepChange, National Debtline or Citizens Advice. They can provide free and confidential advice on how to manage your debt and help you work out a plan to repay it.
  5. Consider a debt relief order: If you have a low income, few assets and owe less than £20,000 in total, you may be eligible for a debt relief order. This is a form of insolvency that allows you to write off your debts after 12 months.
  6. Avoid debt management companies that charge upfront fees: There are many debt management companies that charge upfront fees for their services. Be wary of these companies as they may not offer the best advice and could make your debt problems worse.

Remember that it is important to seek help as soon as possible if you are struggling with debt. The longer you wait, the more difficult it will be to repay your debts and the more interest and charges you will incur.